Retirement

Normal retirement age for the pension scheme is age 65.  You may be able to retire before this age, but you will need to contact the Pay and Benefits Office directly to discuss this option.

The Pay and Benefits Office try to contact everyone about 6 months before approaching their normal retirement age to let you know what benefits are payable and to give as much help and advice as possible.

The University has agreed with recognised trade unions to remove the requirement in the Conditions of Employment for staff to retire on 30 September following their 65th birthday. In future, staff wishing to retire (ie stop working and draw their USS, ERBS or NHS pension) must give notice in writing (as required in the Conditions of Employment) and contact the Pay and Benefits Manager, Alison Rose (email a.j.rose@exeter.ac.uk or telephone Exeter 723088/extension 3088) at the earliest opportunity to arrange payment of their pension benefits.

Members of staff and their managers may wish to discuss future plans, which may include retirement, in Performance and Development Review (PDR) meetings. The PDR documentation and guidance will be amended to refer to this opportunity to ensure that such discussions comply with the University’s equality standards.

For information on flexible retirement, see our webpage on Flexible Retirement.

For members of ERBS...

we will provide Barnett Waddingham, the current third party administrators with all the information they need to calculate and pay the benefits. Your lump sum cheque will be paid within a few days of your retirement.  Your monthly pension will be paid on the penultimate working day of each month in the same way your salary is paid and by the University's Pay and Benefits Office.

When you become a Pensioner, if you have any queries related to tax on your payments you will need to contact the University Pay and Benefits Office. Any other questions or to advise of a change of address or bank details, please contact the Pay and Benefits Office.

To enable the pension to be paid you will be asked to provide:

• Bank details for payment of the pension
• You may need to provide either your original birth certificate, marriage or civil partnership certificate, or spouse's/partner's original birth certificate (please note that certified copies will suffice) if these have not been seen already
• Confirmation of chosen benefit option
• Life Time Allowance form for the HM Revenue and Customs containing all details of previous pensions in payment/due for payment.

For more information regarding retirement, please speak to the Pay and Benefits Office.

For USS members...

you will be asked to provide:

• Bank details for payment of the pension
• Confirmation of chosen benefit option
• Confirmation of any other pensions that you may already be in receipt of or taking at the same time  as your USS benefits.

USS will contact you direct to confirm payment of the benefits. If you have any queries related to tax on your payments or if any other queries, changes to your address or bank details you will need to contact USS direct: their phone number is 0151 227 4711 or visit their web site at www.uss.co.uk - where you will also find factsheets concerning retirement which contain more information.

If you wish to have more details  information regarding retirement, please speak to the Pay and Benefits Manager on extension 3088 or 3084 or email A.J.Rose@ex.ac.uk. Further information can be found in USS Factsheet Nine/Ten on the USS website